IDT Agreement


“Account” means the electronic account which You have with IDT and from which Your Wallet(s) are created;

“Account Limit” means the maximum amount of e-money You are able to hold in Your Account as set out the Fees and Limits Schedule (see Appendix 1);

“Agreement” means these terms and conditions, together with the Terms of Service in accordance with 1.1.

“AISP” means account information service provider, which provides account information services (i.e. online services providing consolidated information on one or more payment accounts held by You with another payment service provider or with more than one payment service provider); 

“App” means WeSwap iOS or Android App

“Available Balance” means the value of funds loaded onto Your Wallet(s) and available for use;

“Business Day” means any day other than a Saturday, Sunday or national public holiday on which banks are open for business in Gibraltar.

“Card” means an electronic money account issued by Us to You including the WeSwap Prepaid Mastercard®® linked to Your Account;

“Contactless” means a payment feature that provides You with a way to pay by tapping the Card on a point–of–sale terminal reader for transactions of up to a specified limit.

“EEA” means the European Economic Area.

“Expiry Date” means the date on which Your Card will cease to work;

“IDT” means IDT Financial Services Limited, a company registered in Gibraltar with number 95716 whose registered office is at 57-63 Line Wall Road, Gibraltar. IDT is authorised and regulated by the Financial Services Commission, Gibraltar;

“PIN” means Your unique personal identification number which is provided to You for use with Your Card.

“Terms of Service” means a separate document issued by WeSwap describing the specific features, terms, conditions and fees that apply to Your Card and certain currency conversion services provided by WeSwap;

“Wallet” means a designated currency account with IDT to which You can transfer funds for the purpose of accessing e-money and effecting transactions;

“We”“Us” or “Our” means IDT, or Limited acting on behalf of IDT;

“Website” means the website hosted at or such other URL as may be designated from time to time that allows You to access Your personal card information. The website provides up-to-date information about Your Wallet and transactions and You will need an internet connection to access it;

“WeSwap” means Limited, a company registered in England and Wales under company number 07189664 and having its registered offices at 85 Great Portland Street, London, W1W 7LT, UK; and

“You” or “Your” refers to the cardholder.

  1. Information on who we are and this agreement
    1. This document sets out the general terms and conditions that apply to the WeSwap Prepaid Mastercard. This document must be read in conjunction with the Terms of Service, which describe certain specific features, terms, conditions and fees applicable to Your Card. These terms and conditions, together with the sections of the Terms of Service referred to in these terms and conditions, forms the Agreement between You and Us governing the possession and use of the Card. By activating Your Card (see clause 2.3) You accept the Agreement. The Terms of Service also form an agreement between You and WeSwap governing certain currency conversion services to be provided by WeSwap in connection with Your Card. Please note that IDT is in no way responsible for the currency conversion services described in the Terms and Service and You have no rights against IDT under this Agreement or the seperate Terms of Service in relation to these currency conversion services.
    2. Cards are issued by IDT pursuant to a license from Mastercard International Incorporated. At all times the Card remains the property of IDT.
    3. The production of the Cards and the technology systems required to operate the Cards are provided by WeSwap. WeSwap also provides customer support for Cards as set out in clause 13 below.
    4. This agreement will last until the later of the expiry of Your Card or, where a replacement card is applied for, the expiry of the replacement card. This agreement and all communications between Us and You shall be in the English language.
  2. Cards
    1. The Card is a prepaid payment Card which may be used to pay for goods and services at participating retailers that accept Mastercard. It is designed for use in shops and retail locations where You are physically present. Like any payment Card, We cannot guarantee that a particular retailer will accept the Card – please check with the retailer before attempting the transaction if You are unsure. You will not be able to use Your Card to make any purchases from some retailers; such retailers have been blocked by Our systems in order to prevent the potential use of cards for unauthorised or unlawful activity.
    2. The Card is an electronic money (“e-money”) product, regulated by the Financial Services Commission (“FSC”), Gibraltar. It is a prepaid card not a credit card and is not linked to Your bank account. You must ensure that You have sufficient funds in the correct currency in Your Wallets to pay for each purchase, payment or cash withdrawal using the Card. The Card is intended for use as a means of payment, and funds loaded onto the Card do not constitute a deposit. You will not earn interest on the balance of the Card. The Card will expire on the Expiry Date and will cease to work. Please check clause 8 of this Agreement for further information.
    3. When You receive Your Card, it will be issued to You in an inactive state. Prior to use You will need to activate it by calling +44 (0)844 4 457 357 or alternative numbers available for other countries as listed at The Card will normally be ready for use one hour after activation. If You don’t activate Your Card, any transactions that You attempt to carry out may be declined.
    4. You will be advised how to obtain Your PIN as part of the activation process. You may change Your PIN at any cash machine that offers the facility. Once Your Card is activated You may use the Card to access the e-money held in the associated Wallet for the purpose of making transactions. You will need a PIN for cash machine withdrawals and to authorise any retail sales transactions. Where a Card is applied for through the Website, or a replacement Card is requested We endeavour to dispatch it within 10 (ten) Business Days to the address selected by You at the time of application or replacement card request. For replacement Cards, delivery charges will be applied and advised to You upon request of the replacement Card.
  3. Identification required for purchase of cards
    1. The Card is a financial services product, and We are therefore required by law to hold certain information about Our customers. We use this information to administer Your account, and to help Us identify You and Your Card in the event that it is lost or stolen. We only keep this information as long as is necessary and for the purposes described. Please see clause 15 of this Agreement and the WeSwap Privacy Policy for more information.
    2. In order to obtain a Card, You must be at least 18 years old and resident in one of the following countries. We may require evidence of who You are and of Your address. We may ask You to provide some documentary evidence to prove this and/or We may carry out checks on You electronically.
    3. When We carry out these checks, Your personal information may be disclosed to credit reference agencies and fraud prevention agencies. These agencies may keep a record of the information and a footprint may be left on Your credit file, although the footprint will denote that the search was not a credit check and was not carried out in support of a credit application. It is an identity check only, and will therefore have no adverse affect on Your credit rating.
    4. Your application to be issued with a Card will indicate to Us that You consent to the checks described in this agreement being undertaken.
  4. Fees and Charges
    1. The fees associated with this Card form an integral part of This Agreement All fees, save for any fees related to any currency conversion services to be provided by WeSwap are described in the Fees and Limits Schedule (see Appendix 1). If You have any queries about the fees and charges please contact [email protected]
  5. How to use the cards
    1. A Card may only be used by the person to whom the Card was issued. The Cards are otherwise non-transferable, and You are not permitted to allow another person to use the Card, for example by disclosing Your PIN or allowing them to use Your Card details to purchase goods via the Internet. Prior to use, the Card should be signed on the signature strip located on the back of the Card. Only one Account and one Card may be held at any one time. If We discover that You hold more than one Account or more than one Card, We may cancel one or all of these Accounts or Cards without prior notice and You may not be permitted to re-register.
    2. We will be entitled to assume that a transaction was authorised by You where:
      1. the magnetic stripe on the Card was swiped by the retailer or the Card was inserted into a chip & PIN device;
      2. the Card PIN was entered or a sales slip was signed;
      3. relevant information was supplied to the retailer that allows them to process the transaction, for example providing the retailer with the 3-digit security code on the back of Your Card in the case of an internet or other non-face-to-face transaction; or
      4. If Your Card is Contactless enabled, tapped against a Contactless-enabled reader and accepted by such reader.
    3. Normally, We will receive notification of Your authorisation by way of an electronic message in line with the rules and procedures of the MasterCard payment scheme. Once You have authorised a transaction, the transaction cannot be stopped or revoked. However, You may in certain circumstances be entitled to a refund in accordance with clauses 13 and 14.
    4. On receipt of notification of Your authorisation of a transaction and the transaction payment order, normally We will deduct the value of the transaction, plus any applicable fees and charges, from the Available Funds on the Card. The transactions will be executed as follows:
      1. Within the EEA We will execute any transaction:
        1. in euro;
        2. in sterling or Gibraltar pounds within Gibraltar or between Gibraltar and the United Kingdom in sterling; or
        3. involving only one currency conversion between the euro and sterling, provided that the required currency conversion is carried out in Gibraltar and, in the case of cross-border transactions, the cross-border transfer takes place in euro, by transferring the amount of the transaction to the payment service provider of the retailer by the end of the next Business Day following the receipt of the payment order
      2. Any other transactions within the EEA will be executed no later than 4 Business Days following the receipt of the payment order.
      3. If the payment service provider of the retailer is located outside the EEA, We will execute the transaction as soon as possible.
      4. The payment order will be received when We receive it from the retailer’s payment service provider, automated teller machine (ATM) operator or directly from You. If We receive the payment order on a non-Business Day or after 4:30 pm on a Business Day, it will be deemed received by Us on the following Business Day.
    5. Your Card is a prepaid card which allows You to have several “Wallets” with designated currencies. The available Card balance in the applicable Wallet for Your transaction must be equal to or greater than the payment for which You want to use it. Under normal circumstances, if any payment is attempted that exceeds the remaining balance in the Wallet applying to the particular transaction, the transaction will be declined. In certain circumstances, a transaction may take Your Card into a negative balance – this will normally be where the retailer has failed to seek authorisation for the transaction. In these cases, We will attempt to recover some or all of the money from the retailer if We can, providing that We are satisfied that You have not deliberately used the Card in the manner that would result in a negative balance. We will deal with such instances on a case by case basis, but where there is an outstanding shortfall on the balance, We may require You to bring Your Card balance back into good standing by making up the shortfall. We may apply funds from another currency in Your account to make up the shortfall. If We do this, the funds will be converted by WeSwap and its top-up commission will apply which is defined in the Fees and Limits Schedule (see Appendix 1). Please note that IDT shall have no liability for currency conversions conducted by WeSwap or the top up rates set. Until Your Card is in good standing, We may restrict or suspend the use of Your Card.
    6. The Card may be used in full or part payment for purchases. In the case of part payment, You will be required to pay the outstanding amount of the purchase by an alternative means, for example, cash or debit card or credit card.
    7. You are able to use Your card to enable Contactless transactions. When using Your card for Contactless transactions, a maximum limit will apply. The limit is regulated by [MasterCard] and may vary from time to time. We will advise You what the limit is and of any changes to the limit on Our Website.
    8. Normally, We will be able to support transactions 24 hours per day, 365 days per year. However, We cannot guarantee this will be the case, and in certain circumstances – for example a serious technical problem – We may be unable to receive or complete transactions.
    9. If you use your WeSwap Card to make a transaction in a currency other than those listed here, we will convert the transaction amount to the equivalent home currency amount using the Mastercard foreign exchange rate, and apply the 2% Instant Swap fee, listed here. You can get details of the Mastercard foreign exchange rate by visiting the get support section of their website at
  6. Restrictions on use and loading
    1. You must ensure that You have sufficient Available Funds on Your Card to pay for each purchase, payment or cash withdrawal using the Card.
    2. A Card is not linked to a bank deposit account and is not a cheque guarantee card, charge card or credit card, nor may it be used as evidence of identity.
    3. A Card may not be used for preauthorised regular payments, for gambling, or for any illegal purposes.
    4. The Card may only be loaded via channels that We approve. The type and nature of these load channels will depend on the commercial relationship We have with Our partners.
    5. The Card may only be loaded by the registered Account holder. In the case of a Card being loaded by a third party, We reserve the right to seek further documentation in order to prove the legitimacy of the funds. We may limit the use of the Card and Account while these checks are carried out.
    6. The Card and Account are intended for personal use only. If We discover that the Card and Account are being used for commercial purposes, We reserve the right to charge administrative fees in closing down the Account.
    7. You may load new funds onto any Wallet that You hold by giving the details of any Card that has been issued for the purpose of accessing the e-money held in that Wallet, so long as it is within Your Account Limit. Any funds that You upload will be uploaded to the Wallet associated with the Card details that You gave and not the Card. This means that any Card issued under that Wallet will be able to access the funds held in that Wallet.
    8. You can load Your Wallet by bank transfer by following the steps on our Website.
    9. If You breach the loading limits outlined in Our Fees and Limits Schedule (see Appendix 1), We reserve the right to charge You a refund fee outlined in our Fees and Limits Schedule (see Appendix 1) upon the return of the funds. We may offer to apply the funds to Your Account and this will be decided on a case by case basis.
    10. Should You have any questions about ways to load Your Card please contact Us by email on [email protected]
    11. Any preauthorisation amount (such as a hotel booking or car hire) will place a “hold” on Your Available Funds until the retailer sends Us the final payment amount of Your purchase, which may take up to 30 days.  Once the final payment amount is received, the preauthorisation amount on hold will be removed. During the hold period, You will not have access to the preauthorised amount.
  7. Managing your card & account
    1. We will send You an email notifying You that Your monthly statement has been published in the Online Account Centre as well as in Our Mobile App. We will include a link to the Online Account Centre in Your notification email. Each statement sets out: a reference enabling You to identify each transaction; the amount of each transaction; the currency in which Your Card is debited; the amount of any transaction charges including their break down, where applicable; the exchange rate used in the transaction by Us and the amount of the transaction after the currency conversion, where applicable; and the transaction debit value date.
    2. You will need access to the App or the internet to manage the Card. You may check the balance and Available Funds on Your Card or view a statement of recent transactions, which will be updated daily, to Your dashboard, in Your secure personal login area and following the login request for the Card.
    3. You may request the information specified in clause 7.1 above to be made available as specified in clause 7.2 instead (in the online account). If You chose to do so, You must separately request this by contacting Our Customer Services team according to clause 15. If You have any questions, please contact Our Customer Services team (see clause 15).
    4. If You would like Us to provide You with the information set out in clause 7.1 more often than monthly or not by email (or if agreed differently under clause 7.3, more often than agreed or in a different manner than agreed) then We may charge You a reasonable administration fee to cover our costs of providing the information more often or in a different manner.
  8. Expiry of the card and duration of the agreements
    1. Your Card will expire on the Expiry Date. On that date, the Card will cease to function, and You will not be entitled to use the Card.
    2. In some cases, We may issue a new Card to You shortly before the Expiry Date; however, We are not obligated to do so, and may elect not to issue a replacement Card at Our sole discretion. If We do issue a new Card, a new Expiry Date will apply and the new Card will expire on that Expiry Date.
    3. If You would like to apply for a replacement Card, please email Us at [email protected] The “cooling off” period described in clause 9 will not apply to any replacement Card issued by Us. If You do not wish to receive a replacement Card, You may terminate the Agreement free of charge as set out in clause 10.3.
    4. If You tell Us You do not want Your Card renewed or We refuse to renew Your Card, You will continue to be able to access the e-money held in Your Wallet whilst You still have a Card to enable You to spend the Available Balance held in that Wallet. If You or We choose not to renew Your last remaining Card that has been issued under a Wallet We will close that Wallet upon expiry of all Cards associated with that Wallet.
    5. Although the initial duration of the Agreement expires on the Expiry Date, due to the fact that it is possible for the Agreement to be extended, as set out in clause 8.2, We will treat the Agreement as an indefinite Agreement for the purposes of payment regulation and will not charge You a redemption fee if You terminate the Agreement before the Expiry Date. Your right to cancel the Agreement in clause 10.3 remains unaffected.
  9. Cooling off and refund procedure
    1. You are entitled to a 14-day “cooling off” period from the Commencement Date during which You may cancel Your Card.  Should You wish to cancel Your Card and this Agreement during the “cooling off” period, please return the Card to Us at the following address: LTD, 85 Great Portland Street, London, W1W 7LT unsigned and unused within 14 days of issue and a full refund, including any fees paid to date, will be made to You.  If You have used the Card, You will not be entitled to a refund of any funds that have been spent, including any associated fees, but We will refund any administrative fee and any unspent Available Funds free of charge.
    2. Following the end of the “cooling off” period in clause 9.1 above, You may terminate this Agreement in accordance with clause 10.3 and obtain a refund of all of the Available Funds on the Card by contacting Our Customer Services team in accordance with clause 15. Upon the Expiry Date and termination of the Agreement, You may obtain a refund of all of the Available Funds on the Card free of charge. Before termination and during Your Agreement with Us You may obtain a refund of some or all of the Available Funds by contacting Our Customer Services team in accordance with clause 15, in which case You will be charged a refund fee in accordance with clause 4. We will deduct any refund fee payable to Us from the Available Funds on the Card and will normally make an electronic transfer to the bank account from which the funds originated for the amount of the remaining (or requested) Available Funds on the Card following the deduction of the refund fee.  We will not complete Your refund request if We believe You have provided false information, We are concerned about the security of a transaction, if Your Card is not in good standing, or if there are insufficient Available Funds to cover the refund fee. If You wish to redeem some or all of a balance in a currency other than Your loading currency WeSwap reserves the right to convert the funds and apply its top-up commission which is set out in the Fees and Limits Schedule (see Appendix 1). IDT shall have no liability for currency conversions conducted by WeSwap or the exchange rates applied.
    3. If You request a refund of the entire remaining balance in accordance with clause 9.2, We will assume that it is Your intention to terminate this Agreement and will cancel Your Card.
    4. If for any reason You have some Available Funds left following the termination of the Agreement, You may obtain a refund in full up to 6 years following the termination. As long as there are Available Funds, You will be charged a refund fee if You request a refund more than one year after the termination.
    5. If you wish to cancel after purchasing the Card but have not yet activated the Card, please simply return the Card without activating by following the procedure set out in clause 9.1. Once we receive the Card, We will refund You the purchase amount you paid for the Card by crediting the payment instrument You used for the purchase.
  10. Termination of this agreement
    1. Subject to clauses 10.2 and 10.3, this Agreement will terminate on the Expiry Date subject to:
      1. a replacement Card being issued to You on or before the Expiry Date of Your Card in accordance with clause 8.2; or
      2. a request for cancellation by You and/or refund by You of the entire remaining balance on Your Card in accordance with clause 9.2 above. There are no cancellation fees but refund fees may apply in accordance with clause 4.
    2. We may terminate this Agreement and inform You of the termination immediately unless prohibited by law:
      1. if You breach an important part of this Agreement, or repeatedly breach the Agreement and fail to resolve the matter within 10 days, or use Your Card or any of its facilities in a manner that We reasonably believe is fraudulent or unlawful;
      2. if You act in a manner that is threatening or abusive to Our staff, or any of Our representatives; or
      3. if You fail to pay fees or charges that You have incurred or fail to put right any shortfall on the balance of Your Card.
      4. We may also terminate the Agreement for no or any reason, including the reasons above by giving You two months’ notice.
    3. You may terminate the Agreement at any time free of charge by contacting Us using the contact details in clause 15.1 except that We will charge You a termination fee if You terminate the Agreement before the expiry of 6 months of the Agreement
    4. If the Agreement terminates, We will cancel Your Card and You must tell Us as soon as practicable what You want Us to do with any unused Available Funds on Your Card.
  11. Keeping your card and details safe
    1. We will assume that all transactions entered into by You with Your Card or Card details are made by You unless We are notified in accordance with clause 12.1.. You are responsible for keeping Your Card and its details safe. This means You must take all reasonable steps to avoid the loss, theft or misuse of the Card or details. Do not disclose the Card details to anyone except where necessary to complete a transaction. You should be happy that the retailer or service provider is genuine and has taken adequate steps to safeguard Your information before proceeding with the transaction and supplying them with the physical Card or details.
    2. Once Your Card has expired or if it is found after You have reported it as lost or stolen, You should destroy Your Card by cutting it in two through the magnetic strip.
    3. You must keep Your PIN safe at all times. This includes:
      1. Memorising Your PIN as soon as You receive it, and destroying the letter or other document on which We provided the PIN to You immediately.
      2. Never writing Your PIN on Your Card or on anything You usually keep with Your Card;
      3. Keeping Your PIN secret at all times, including by not using Your PIN if anyone else is watching.
      4. Not disclosing Your PIN to any person. This includes printed messages, e-mails and online forms.
    4. Failure to comply with this may be treated as gross negligence and may affect Your ability to claim any losses.
  12. Lost, stolen, or damaged cards
    1. If You lose Your Card or it is stolen or damaged or You suspect it has been used by someone else, please notify Us without undue delay as soon as You become aware of this by telephoning Customer Services in accordance with clause 14 of this agreement. You will be asked to provide Your Card number and other information to verify that You are the authorised cardholder. Following satisfactory completion of the verification process, We will then immediately block any lost or stolen Card to prevent unauthorised use and cancel any damaged Card to prevent further use.
    2. After You have notified Us of the loss, theft or risk of misuse, and providing that We are able to identify Your Card and satisfy certain security checks, We may issue a replacement Card and/or PIN to You. Certain fees may apply for the re-issue of a lost or stolen card, which are identified in the Fees and Limits Schedule ( see Appendix 1) . The cooling off period described in clause 9.1 does not apply to replacement Cards.
  13. Purchases from retailers
    1. We are not responsible for the safety, legality, quality or any other aspect of the goods and services purchased with the Card.
    2. Where a retailer provides a refund for any reason (for example, if You return the goods as faulty), it can take several days for the notification of the refund and the money itself to reach Us. As such, please allow 5-10 days from the date the refund was carried out for the refund to be applied to Your Card.
  14. Transaction disputes and card suspension
    1. If You believe You did not authorise a particular transaction or that a transaction was incorrectly carried out, in order to get a refund You must contact Our Customer Services team without undue delay – as soon as You notice the problem, and in any case no later than 13 months after the amount of the transaction has been deducted from the Card. We will as soon as practicable, and in any event no later than the end of the Business Day following the day on which We become aware of the unauthorised transaction, refund any unauthorised transaction and any associated transaction fees and charges payable under this Agreement subject to the rest of this clause 14, except in cases where We have a reasonable suspicion that You have acted fraudulently, in which case We will conduct an investigation as quickly as possible and notify You of the outcome. If the investigation shows that the transaction was indeed unauthorised, We will refund You as set out above in this clause 14.1.
    2. If a transaction initiated by a retailer (for example, this happens when You use Your Card in a shop) has been incorrectly executed and We receive proof from the retailer’s payment service provider that We are liable for the incorrectly executed transaction, We will refund as appropriate and immediately the transaction and any associated transaction fees and charges payable under this Agreement.
      1. We are not liable for any incorrectly executed transactions if we can show that the payment was actually received by the retailer’s payment service provider, in which case they will be liable.
      2. We execute transactions in accordance with the transaction detail received. Where the detail provided to us by you and it is incorrect, we will not be liable for incorrectly executing the transaction, but we will make reasonable efforts to recover the funds involved. In such a case we may charge you a reasonable fee to cover our administration costs, of which we will notify you in advance.
    3. If You receive a late payment from another payment service provider (e.g. a refund from a retailer’s bank) via Us, We will credit Your account with the relevant amount of any associated fees and charges so that You will not be at a loss.
    4. Subject to the rest of this clause 14, We will limit Your liability to £35 for any losses incurred in respect of unauthorised transactions arising from the use of a lost or stolen Card, or the misappropriation of the Card’s details, except where:
      1. the loss, theft or misappropriation of the Card was not detectable by You before the unauthorised transaction took place (unless you acted fraudulently, in which case You are liable for all losses incurred in respect of the unauthorised transaction), or
      2. the loss was caused by acts or omissions of one of Our employees or agents,
      3. in which case You are not liable for any losses.
    5. You will be liable for all losses incurred in respect of an unauthorised transaction if: 
      1. You have acted fraudulently; or
      2. have intentionally or with gross negligence failed to:
        1. look after and use Your Card in accordance with the Agreement; or
        2. notify Us of the problem in accordance with clause 12.1.
    6. Except where You have acted fraudulently, You will not be liable for any losses incurred in respect of an unauthorised transaction:
      1. which arise after Your notification to Us;
      2. where You have used the Card in a distance contract, for example, for an online purchase; or
      3. where We have failed to provide You with the appropriate means of notification, as found in clause 12.1.
    7. Depending on the circumstances, Our Customer Services team may require You to complete a dispute declaration form. We may conduct an investigation either before or after any refund has been made. We will let You know as soon as possible the outcome of any such investigation. If Our investigations show that any disputed transaction was authorised by You or You may have acted fraudulently or with gross negligence, We may reverse any refund made and You will be liable for all losses We suffer in connection with the transaction including but not limited to the cost of any investigation carried out by Us in relation to the transaction. We will give You reasonable notice of any reverse refund.
    8. In certain circumstances, a transaction will be initiated but not fully completed.  Where this happens, this may result in the value of the transaction being deducted from the Card balance and therefore unavailable for use – We refer to this as a “hanging authorisation” or “block”.  In these cases, You will need to contact Our Customer Service team in accordance with clause 15 and present relevant evidence to show that the transaction has been cancelled or reversed.
    9. In certain circumstances, We may without notice refuse to complete a transaction that You have authorised.  These circumstances include:
      1. if We have reasonable concerns about the security of Your Card or We suspect Your Card is being used in a fraudulent or unauthorised manner;
      2. if there are not sufficient Available Funds to cover the transaction and all associated fees at the time that We receive notification of the transaction;
      3. if there is an outstanding shortfall on the balance of Your Card;
      4. if We have reasonable grounds to believe You are acting in breach of this Agreement;
      5. if there are errors, failures (mechanical or otherwise) or refusals by retailers, payment processors or payment schemes processing transactions; or
      6. if We are required to do so by law.
    10. Unless it would be unlawful for Us to do so, where We refuse to complete a transaction for You in accordance with clause 14.9 above, We will notify You as soon as reasonably practicable of the refusal and the reasons for the refusal, together where relevant, with the procedure for correcting any factual errors that led to the refusal.
    11. We may suspend Your Card or the right to load Your Wallet, in which case You will not be able to use it for any transactions, if We have reasonable concerns about the security of Your Card or We suspect Your Card is being used in a fraudulent or unauthorised manner, or We reasonably consider it necessary to carry out internal operational matters. This could include but is not limited to ad-hoc security checks when a certain threshold limit has been reached, or because We are simply re-verifying Your details for data systems accuracy. We will notify You of any such suspension in advance, or immediately after if this is not possible, and of the reasons for the suspension unless to do so would compromise reasonable security measures or otherwise be unlawful. We will lift the suspension and, where appropriate, issue a new Card free of charge as soon as practicable once the reasons for the suspension cease to exist.
    12. This clause 14.12 applies when you use AISP services. We may deny an AISP access to Your Account connected to Your Card for reasonably justified and duly evidenced reasons relating to unauthorised or fraudulent access to Your account by that AISP. If We do deny access in this way, We will notify You of the denial and the reason for the denial in advance if possible, or immediately after the denial of access, unless to do so would compromise reasonably justified security reasons or is unlawful. We will allow AISP access to Your Account once the reasons for denying access no longer apply.
    13. You may claim a refund for a transaction that You authorised provided that:
      1. Your authorisation did not specify the exact amount when You consented to the transaction; and
      2. the amount of the transaction exceeded the amount that You could reasonably have expected it to be taking into account Your previous spending pattern on the Card, the Agreement and the relevant circumstances.
      3. Such a refund must be requested from Our Customer Services team within 8 weeks of the amount being deducted from the Card. We may require You to provide Us with evidence to substantiate Your claim. Any refund or justification for refusing a refund will be provided within 10 Business Days of receiving Your refund request or, where applicable, within 10 Business Days of receiving any further evidence requested by Us. Any refund shall be equal to the amount of the transaction. Any such refund will not be subject to any fee.
  15. Customer services
    1. Our Customer Services team is available from 8am to 6pm Monday to Friday (UK time). During these hours we will endeavour to resolve all enquiries immediately, however please note that certain types of enquiry can only be resolved during normal business opening hours. You can contact Our Customer Services team by the following methods:
      1. sending Us a message by clicking on the “Support” tab on Our website    (preferably when You are logged in);
      2. emailing [email protected] from the email address We have for You;
      3. calling Us on +44 (0) 02030536610 , +44 (0)844 4 457 357 or one of the following numbers here, if You are ringing from outside the UK;
      4. writing to Customer Service, Limited, 85 Great Portland Street, London, W1W 7LT, UK.
      5. If We need to contact You or send You a notification under this Agreement, We will do so by sending an email to the email address You provided Us with when You obtained the Card, by sending an SMS to Your registered mobile number or by sending a notification to Your App, unless stated otherwise in the Agreement.
      6. If We need to contact You in the event of suspected or actual fraud or security threats, We will first send You an SMS prompting You to contact Our Customer Services team.
    2. If You are not satisfied with any element of the service You receive, any complaints should also be made to Customer Services using the contact details in clause 15.1 above. Calls may be monitored or recorded for training and monitoring purposes. Please see the WeSwap Customer Complaints and Error Handling Policy, which is available on request from Customer Services, for more details.
    3. We do everything We can to make sure You receive the best possible service. However, if You are not happy with how Your complaint has been managed by our customer care team and You wish to escalate Your complaint, You should contact the card issuer, IDT Financial Services, PO Box 1374, 1 Montarik Building, 3 Bedlam Court, Gibraltar, email address: [email protected], web: in the first instance for further assistance. A copy of Our complaints policy can be found on Our website or requested by contacting Us.
    4. If, having exhausted Our complaints procedure, You remain unhappy, You may complain to the Financial Services Commission, PO Box 940, Suite 3, Ground Floor, Atlantic Suites, Europort Avenue, Gibraltar, email: [email protected], web: It is important to be aware that legally it is not the role of the Gibraltar Financial Services Commission to resolve disputes between You and Us.
    5. Generally speaking, in the EEA, if you opened your Account online or used a service like Ours online, you may submit your complaint on the European Commission online dispute resolution platform (ODR platform) instead of complaining directly to the Financial Services Commission at At this moment in time, it is not possible to use the platform for a Gibraltar issuer like Us but this may change in the future. We will notify You of any such changes
  16. Limitation of liability
    1. None of the organisations described in Sections 1.2 and 1.3 will be liable for:
      1. any fault or failure relating to the use of the Card or Account that is a result of abnormal and unforeseeable circumstances beyond Our control which would have been unavoidable despite all Our efforts to the contrary, including but not limited to, a fault in or failure of data processing systems;
      2. the goods or services that You purchase with Your Card;
      3. any loss of profits, loss of business, or any indirect, consequential, special or punitive losses; or
      4. a retailer refusing to honour a transaction or refusing a payment; or
      5. any acts or omissions that are a consequence of Our compliance with any national or European Union law.
      6. In any event, the liability of the organisations described in clause 1.2 and 1.3 will be limited to the balance of the Card at the time that the event occurs.
    2. In addition to the conditions set out in clause 14.1, Our liability shall be limited as follows:
      1. Where Your Card is faulty due to Our fault, Our liability shall be limited to replacement of the Card or, at Our choice, repayment to You of the Available Balance;
      2. Where sums are incorrectly deducted from Your Available Balance due to Our fault, Our liability shall be limited to payment to You of an equivalent amount.
    3. In all other circumstances of Our default, Our liability will be limited to repayment of the amount of the Available Balance.
    4. Nothing in this Agreement shall exclude or limit Our liability for death or personal injury.
    5. If You have used Your Card or allowed Your Card to be used fraudulently, in a manner that does not comply with this Agreement, for illegal purposes, or if You have allowed Your Card or details to be compromised due to negligence, You will be held responsible for the use and misuse of the Card. We will take all reasonable and necessary steps to recover any loss from You, and there shall be no maximum limit to Your liability except where relevant laws or regulations impose such a limit. This means You should take care of Your Card and details and act responsibly, or You will be held liable.
    6. The Gibraltar Deposit Guarantee Scheme does not apply to Your Card or Account. This means that in the unlikely event that IDT were to become insolvent, Your Card and/or Account may become unusable and any funds associated with Your Card and/or Account may be lost. By using Your Card and by entering into this Agreement You are indicating that You understand and accept these risks.
    7. Although You will not be able to recover Your money from the Gibraltar Deposit Guarantee Scheme in the unlikely event that IDT becomes insolvent, as a responsible e-money issuer We take the security of Your money very seriously. Your funds are held in a secure client account, specifically for the purpose of redeeming transactions made via Your Card. In the unlikely event of any such insolvency, funds that have reached Our account will be protected against claims by creditors. We will be happy to talk through any questions or concerns You might have. Please contact Customer Services for information.
  17. Your personal information
    1. We collect certain information about the purchaser and the users of the Card in order to operate the Card programme. WeSwap and IDT are Data Controllers of Your personal data, and will manage and protect Your personal data in accordance with the Data Protection Act 1998 (UK) and Data Protection Act 2004 (Gibraltar) respectively.
    2. We may transfer Your personal data outside the European Economic Area (“EEA”) to Our commercial partners where necessary to provide Our services to You, such as customer service, account administration, financial reconciliation, or where the transfer is necessary as a result of Your request, such as the processing of any international transaction. When We transfer personal data outside the EEA, We will take steps to ensure that Your personal data is afforded substantially similar protection as personal data processed within the EEA. Please be aware that not all countries have laws to protect personal data in a manner equivalent to that of the EEA. Your use of Our products and services will indicate to Us that You agree to the transfer of Your personal data outside the EEA. If You withdraw Your consent to the processing of Your personal data or its transfer outside the EEA, which You can do by using the contact details in clause 15.1, We will not be able to provide Our services to You. Therefore, such withdrawal of consent will be deemed to be a termination of the Agreement.
    3. Unless You have provided Your explicit permission, Your personal data will not be used for marketing purposes by Us or Our commercial partners (unless You have independently provided Your consent to them directly), nor will it be shared with third parties unconnected with the Card scheme.
    4. You have the right to request details of the personal information that is held about You, and You may receive this by writing to Us. Where legally permitted, We may charge for this service.
    5. Please refer to our Privacy Policy for full details, which You accept by accepting the Agreement.
  18. Changes to the agreement
    1. If any changes are made, they will be publicised on our website at least 2 months before the changes take effect (unless the law requires or permits Us to make a more immediate change or in the event of a change to the exchange rate).  Copies of the most up-to-date version of the Agreement will be made available on our website at all times and will be sent to you by email upon request free of charge at any point during the Agreement.
    2. We will also notify you of any change to the Agreement by email at least 2 months in advance. You will be deemed to have accepted the change if you do not notify us otherwise prior to the date the change takes effect and continue to use the Card. If you do not accept the change, you may end this Agreement immediately and free of charge before the expiry of the notice.
    3. There may be times when we will have to change this Agreement without notice or with a notice shorter than 2 months but this would happen in a very limited number of cases and only for legal, regulatory or security reasons, or to enable the proper delivery of the Card scheme. If this is the case, we will notify you of such changes with as much notice as possible, or as soon as possible after the change has taken effect if advance notice is not possible. Your right under clause 10.3 to terminate the Agreement at any time free of charge would not be affected.
  19. Law and courts
    1. The Agreement, and your relationship with us arising out of or relating to the Agreement, will be governed by the law of England and Wales. However, if you are resident elsewhere in the UK, any relevant consumer protection law of your home jurisdiction that exceeds the consumer protection law of England and Wales will apply to the Agreement. All disputes arising out of or relating to the Agreement shall be subject to the jurisdiction of the courts of England and Wales. However, if you are resident elsewhere in the UK, the Agreement will be subject to the relevant court in your home jurisdiction (i.e. Scotland or Northern Ireland).
  20. Assignment
    1. We may assign the benefit and burden of this agreement to another company at any time by giving two months’ notice of this. If We do this, Your rights will not be affected. You may not assign or transfer this Agreement or any of Your rights and/or benefits or obligations under this Agreement without Our prior written consent.
  21. Severance
    1. If any term or provision in the Agreement shall be held to be illegal or unenforceable, in whole or in part, under any enactment or rule of law, such term or provision or part shall to that extent be deemed not to form part of the Agreement but the validity and enforceability of the remainder of the Agreement shall not be affected.

Appendix 1

Fees and Limits

Fees are charged in the currency you are swapping into. So if you wish to swap GBP 1,000 into USD, the fee will be charged in USD.

Smart Swap2.0%*
Instant Swap2.0%*
3 Day Swap1.3%
7 Day Swap1.0%

A swap that completes earlier than requested will always be charged at the original swap fee.

* For all users who registered prior to 08/05/2017, the instant and Smart Swap fee is 1.4%

NB: if you make a transaction in a currency other than those listed here, the instant 2% swap fee will apply to all users irrespective of when they registered.

Additional fees

Replacement card£4.95
Chargeback fee£10
Administration fee¹
Refund fee£5
Stamp duty²€5
Inactivity fee³£2
Expired card management fee⁴£2

ATM withdrawal fees

2.5% fee charged for any withdrawal amount above the £250⁵.
Resets every month.

You may also be charged by the operator of the ATM.

Load limits

Min load£10 / €15 / NKr100 / SKr100 / DKr100
Max Single load£3,000 ⁵
Max daily load attempts5
Max annual load amount£25,000 ⁵
Max total balance£6,000⁵

Send and receive limits

Monthly transfer limit (send) £2,000⁵
Monthly transfer limit (received)£2,000⁵

Daily limits abroad in 18 wallet currencies

Max ATM withdrawal amount £500⁵
Max ATM withdrawals (including balance checks)2
Max transactions 15

Domestic and outside of our 18 wallet currencies limits

Max ATM withdrawal amount (reset every 7 days)£400
Max daily ATM withdrawals (including balance checks)   2
Max daily transactions15

Domestic and outside of our 18 wallet currencies limits are reset on the 1st, 8th, 15th, 22nd and 29th of each month (as applicable).

Swap limits

Min Swap Amount£5 / €6 / $7.50 / ₺20 / ₪20 /  DKr 50 / SKr 50 / NKr 50 / NZ$10 / zł25 / S$10 / R100 / A$10 / C$10 / CHF10 / HK$100 / Ft2000 / ¥1000

¹ Fee is chargeable under certain rare circumstances (if you request an additional service from us which we normally do not provide), but we will always notify you in advance if and when the fee applies.

² Fee for residents of the Republic of Ireland only. To be deducted from the balance on the account, or from the first load of the year.

³ Inactivity fee is chargeable if there is no activity on your Account for a consecutive period of 12 months.

⁴ Expired card management fee on cards with leftover funds, is chargeable on the 13th month after your card has expired.

⁵ Values are equivalent to GBP values unless stated otherwise.